Govt gets 5 proposals worth Rs 1.53 lakh cr for chip, display units

According to a statement, the central government has received proposals from five companies for setting up the electronic chip and display manufacturing plants with an investment of Rs 1.53 lakh crore. The Ministry of Electronics and IT said Companies like Vedanta Foxconn JV, IGSS Ventures and ISMC had proposed to set up electronic chip manufacturing plants with an investment of $13.6 billion and sought the support of $5.6 billion from the government under the Rs 76,000 crore Semicon India Programme. Vedanta and Elest have proposed to set up a display manufacturing plant with an investment of $6.7 billion and sought the support of $2.7 billion from the government under the scheme for setting up Display Fabs across India. SPEL Semiconductor, HCL Technologies, Syrma Technology and Valenkani Electronics have registered for semiconductor packaging, and Ruttonsha International Rectifier has registered for compound semiconductors. Other companies, including Terminus Circuits, Trispace Technologies and Curie Microelectronics, have submitted applications under the Design Linked Incentive Scheme. Image Source Also read: Vedanta partners with Foxconn to produce semiconductors in India